Jon Oksenholt’s plan would create a parent company that would own the GSEs and Common Securitization Services but allow them to keep their charters and operate independently.
Although investors would own just one listed security, Fannie and Freddie “could maintain separate underwriting, pricing, credit and customer service decisions,” according to Jon Oksenholt, the eponymous founder of Oksenholt Capital Management.
Federal Housing Finance Agency Director Bill Pulte directed Fannie Mae and Freddie Mac to end support for special purpose credit programs earlier this year. But now other agencies are also ending authorization for the programs.